$ETH's current weekly status is quite awkward; after breaking the new high for this cycle, it started to oscillate and pull back without moving much. As of today, it has tested the price level of 4060 twice.
So it can be basically confirmed that the key price level for the weekly trend structure is here. Above this level, one can continue to hold spot positions and wait for a new trend to emerge, but if the weekly breaks below this level, the previous breakout will be seen as a false breakout...
Currently, my plan is to continue holding the remaining 40% of my spot. If the daily confirms a break below 4060, I will sell half, and if it confirms a break below 3350, I will sell another half...
Aside from that, just continue to hold! I can only respond to changes with consistency...
The two expected paths for BTC's upcoming market discussed during the live stream at @Sidekick_Labs last night;
The white path is more favorable for the altcoin market, maintaining a converging oscillation until mid-October, and then gradually choosing a new direction in late October;
The more pessimistic path is the red path, where a large-scale daily descending channel will begin, targeting the 100k integer mark. Such a pullback can effectively respect and eliminate the previous MACD weekly double top divergence.
As for why there is no green path, it's because a lower high on the daily chart has already appeared. The next low point based on the daily pullback will determine whether the market chooses to oscillate or continue to pull back.
Yesterday's drop has led to a bearish shift on the 4-hour level, but the daily still has hope for maintaining oscillation, so we can only continue to endure~
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